Council Member Restler on Monitor Point — five-year negotiation history and affordable housing increase
Restler recounts the five-year negotiation, from initial opposition to reaching a final agreement, with affordable housing increased from 25% to 50% of units, totaling 662 affordable apartments.
Thank you so much, Chair Lewis.
And I just want to apologize to every member of the committee for my tardiness.
And I'm sorry to keep each of you waiting.
I really apologize.
We just moments ago were able to reach a final agreement on this project.
About five years ago, it was July or August of the summer of 2021, shortly after I won my primary, and I remember screaming on the phone to Will Schwartz at the MTA about how I thought this project was a total non-starter.
It's come an extraordinarily long way, and I am pleased today to express my support for the amended proposal for a majority affordable housing development known as Monitor Point at 40 Quay Street in Greenpoint.
I've been clear over these five years that any development of this publicly owned land must be primarily in the public interest.
And I'm grateful to the hundreds, actually thousands of neighbors who've reached out to me and my office to share their perspective.
In direct response to our feedback, the applicant, Gotham, has amended their proposal to increase the share of permanently affordable housing from about 25% of the units to 50% of the units, nearly tripling the number of actual affordable housing units that are going to be built in our community.
At my insistence, this development will include 662 affordable apartments in this 13 plus 100 unit development.